When the campaign for a High Pay Commission first crossed my radar I ignored it as a bit daft and unimportant, then it crossed my radar again and I realised a few of the names that had signed.
Don’t get me wrong there’s a point when the amount of wealth you have becomes immoral – what that level might be is hard to decide and here’s the problem, government won’t be able to determine what’s high pay let alone what to do about it.
Now here’s a much better idea put the workers in charge.
There is, though, an alternative to a government commission – workers’ control. Workers, far more than any ragbag of state-appointed “experts”, have an idea whether their high-paid bosses are clueless gobshites or genuinely good managers. And they have an incentive to distinguish between them. Rational workers would want to retain a talented manager, as he is best able to secure their jobs and improve their wages. And they have every need to get rid of the bad boss, as it’s their jobs that are threatened by his greedy incompetence.
So, high pay should be curbed (or not) not by the state but by workers themselves. Chris Dillow, Stumbling and Mumbling.
And as Paul Cotterill points out Compass would do better to concentrate on dealing with low-pay. Raising the poorest employees wages makes make high-pay less of a problem.
And for those of you who believe the National Minimum Wage (NMW) has solved the problem need to consider two points firstly the NMW is holding pay down and secondly unscrupulous employers are coercing employees to become self-employed contractors which are then paid less than the NMW.
So like Chris Dillow and Paul Cotterill I won’t be adding my support to the campaign.